Skyworks Solutions, Inc.’s stock price soars to $110.82, marking a bullish 4.14% jump

Skyworks Solutions, Inc. (SWKS)

110.82 USD +4.41 (+4.14%) Volume: 2.71M

Skyworks Solutions, Inc.’s stock price is currently at 110.82 USD, experiencing a positive trading session with a 4.14% increase, backed by a hefty trading volume of 2.71M. Despite the current uptick, the stock’s performance shows a slight decrease of -1.42% Year-to-Date (YTD), indicating a mixed performance for SWKS stocks in the market.

Latest developments on Skyworks Solutions, Inc.

Skyworks Solutions, Inc. (NASDAQ:SWKS) has seen a series of stock position changes recently, with Daiwa Securities Group Inc. increasing their stock position in the company. Despite this, Skyworks Solutions stock rose on Tuesday but still underperformed the market. Sequoia Financial Advisors LLC sold some shares, while FORA Capital LLC sold 31,900 shares. Analysts have given Skyworks Solutions a consensus rating of “Hold,” while BNP Paribas bought new holdings in the company. Additionally, Norden Group LLC acquired 7,074 shares in Skyworks Solutions. These proactive strategies and various stock movements have contributed to the fluctuations in Skyworks Solutions stock price today.

Skyworks Solutions, Inc. on Smartkarma

Analysts on Smartkarma, such as Baptista Research, have been closely following Skyworks Solutions Inc. and their recent financial performance. In a report titled “Skyworks Solutions Inc.: Continued Investment in Technology and Product Roadmaps! – Major Drivers”, the company demonstrated solid financial performance in the second fiscal quarter of 2024, with revenue of $1.046 billion and earnings per share of $1.55. The company sees significant opportunities in the edge IoT market, indicating a possible multiyear upgrade cycle.

Furthermore, in another report titled “Skyworks Solutions: Is The Strategic Expansion in Mobile and Broad Markets Fuelling Growth? – Major Drivers”, analysts highlighted the company’s record free cash flow margin of 63% in Q1 2024. Despite pressing macroeconomic conditions, Skyworks Solutions generated $775 million in operating cash flow, showcasing strong working capital management. These reports provide valuable insights into the company’s growth potential in key sectors like IoT and automotive, as analyzed by independent analysts on Smartkarma.

A look at Skyworks Solutions, Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Based on the Smartkarma Smart Scores, Skyworks Solutions has a positive long-term outlook. With a high score in dividends, the company is likely to provide consistent returns to its investors. Additionally, its strong momentum score indicates that the company is performing well in the market currently. Although the growth and resilience scores are moderate, Skyworks Solutions is still positioned well for future success.

Skyworks Solutions, Inc. is a wireless semiconductor company that specializes in designing and manufacturing radio frequency solutions for mobile communications. With a focus on providing system solutions to wireless handset and infrastructure customers globally, the company has a solid foundation in the industry. The Smartkarma Smart Scores reflect a generally positive outlook for Skyworks Solutions, with high scores in dividends and momentum, indicating a promising future for the company.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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